Key Highlights
- Mobix Labs reported preliminary fiscal fourth-quarter revenue of about $1.81 million, up 129% sequentially.
- Preliminary GAAP gross margin rose to about 44.5% from 12.9% in the prior quarter.
- The company said the figures are unaudited and may change after year-end closing and audit work.
Mobix Labs, Inc. (Nasdaq: MOBX) released preliminary, unaudited results for its fiscal fourth quarter, reporting revenue of approximately $1.81 million, a 129% increase from the preceding quarter.
The company also reported a preliminary GAAP gross margin of about 44.5% for the quarter, compared with 12.9% in the prior quarter. Mobix Labs attributed the improvement to progress in an ongoing turnaround after earlier periods when working capital constraints limited inventory purchases and customer shipments.
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Mobix Labs said product revenue increased approximately 171% sequentially, while preliminary GAAP operating losses narrowed by about 11% compared with the prior quarter.
On the balance sheet, the company reported preliminary year-over-year changes that included a 46% reduction in accounts payable and a $5.2 million increase in stockholders’ equity.
Management said it anticipates continued revenue growth as the company builds on its fourth-quarter operating recovery. Mobix Labs cautioned that the results are preliminary and subject to completion of year-end closing procedures and potential audit adjustments, and that final reported results could differ materially from the figures disclosed.
The original press release is available on stockhouse.com
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